Author: Manfred Purtzki Leasing dental clinic space? How to deal with the landlord. In most cases, the “landlord” will be a corporate entity, not a person. In either case, don’t be surprised if negotiations turn confrontational. It often depends on the market as to who has the upper hand. If vacant retail space is abundant […]
Author: Manfred Purtzki 5 Big Estate Planning Mistakes (and How to Avoid Them) 1. Not having an updated will One of the biggest mistakes in planning for your money and your heirs is not to have an estate plan at all. If you do not have an updated will, you are not alone. If […]
Financing Your First Home Once settled into practice life as a young dentist and enjoying a steady cash flow, you’re probably keen to live in your own modest home. You also looked at some million-dollar homes but decided that trying to finance such an expensive home without any cash down is a ludicrous pipe-dream. With […]
Practice Startup Benefits: Designing and building your clinic allows you to shape your work environment. You choose the number of operatories, the dental chairs, equipment, lighting, art, the reception area, and the ambiance and atmosphere. Investing your time and money in your clinic and your future, not someone else’s. You can choose your location in […]
Find the right clinic for you the first time; there are no do-overs. Owning a clinic is like owning a dog; it’s a long-term commitment that requires constant attention. Be 100 percent sure that owning a dental practice fits your personal and professional goals, aspirations, and capabilities. Owning a dental practice means managing a […]
Think of a break-even analysis as a little like a depth finder on a boat—it tells you how close you are to running aground. Put another way; it shows you how far the revenues of the practice you are considering purchasing can drop before it hits rock-bottom. In this case, rock-bottom is the moment net […]
Building wealth is not the result of making more or having a financial whiz on your team. It is the result of spending more of your time to reach your financial goals. If your most important goal is to pay off the mortgage, or save for retirement, how much effort are you putting in to […]
If you had to choose between a gift of $5 million today or one penny that would double in value daily for 31 days, which would you pick? If you chose the compounding penny option, you are the winner. That option would give you $10,737,418 in 31 days. That’s an offer impossible to turn down […]
Purchasing a dental practice is complicated. Just as a ship captain needs a harbor pilot to help guide them safely into port, you require a few seasoned professionals to help prevent you from making a costly mistake. These professionals should have expertise in dental practice transitions. If you don’t feel confident that your current accountant […]
As you are thumbing through practice valuation reports to find the perfect practice to make an offer on, you come across a valuation of a clinic that looks like a losing proposition. It was established three years ago in a dynamite location which you cannot miss on your daily commute on a busy thoroughfare. Despite […]
If you have any questions, or you are looking for guidance how to proceed with your practice transition, contact us for complimentary consultation
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